CryptoleadersandSiliconValleygiantshaveboostedFairshake’sfundsfortheU.S.2026mid-termelectioncycle,evenasAmericapreparestodecideitsnextpresident.
ThecryptosuperPACFairshakehasraised$78millionfromblockchainsupportersandbusinessesformid-termlobbyingin2026,accordingtoCNBC.
U.S.mid-termelections,heldtwoyearsintoapresident’sterm,determinemanycongressionalseats,potentiallyfavoringdigitalassetregulations.CoinbaseandAndreessenHorowitzareamongthebackersfundingpro-cryptocandidatesinCongress.
America’slargestcentralizedcryptoexchange,Coinbase,pledgedtodonate$25million.Earlier,crypto.newsreportedthata16zcryptocommitted$23milliontoFairshake,asannouncedbymanagingpartnerChrisDixon.
Cryptoindustryfirmsandblockchain-friendlycompanieshavecontributedatotalof$170milliontoFairshake,asuperPACfoundedbyoveradozenentities.Fairshake’snumbers,alongwithothercrypto-alignedPACs,madeupnearly50%ofcorporatedonationsforthe2024generalelections.
A16z,Coinbase,JumpCrypto,andRippledonatedmostofFairshake’s$170millioncryptolobbyingwarchestthiscycle.Fairshakehasspentaround$135million,targetinglegislatorsandstatepolicymakers.
Long-termcryptolobbyingcommitmentsfloatedonhoursbeforethefinalvotingbetweenRepublicanDonaldTrumpandDemocratKamalaHarrisforpresident.OnpredictionplatformslikePolymarket,Trumphadahigherwinningprobabilityat57.9%againstKamala’s42.3%.Butnationalpollsimpliedatightracebetweentherivals.
PresidentialelectionresultsmaybeannouncedonNov.5.However,protractedvotecountingcouldcausedelays.Polymarket’spresidentialcontractcrossed$3.1billionvolumeastradersplacedstoppagetimewagers.
ThelargestpresidentialpredictionmarketwillresolvewhentheAssociatedPress,Fox,andCNBCalldeclareasinglewinner.Ifnot,Polymarket’sbettingpoolwouldremainopenuntiltheinaugurationinJanuary.
Trump\'soddsarebackontherise.
🟥Trump•57.7%chance
🟦Harris•42.3%chanceTomorrowiselectionday.pic.twitter.com/M3Pawmk2Sn
—Polymarket(@Polymarket)November4,2024
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